Knowledge is seen in our day as the main driving force behind productivity, performance and economic growth, shifting the focus to information, technology and learning and their role in economic performance. The growing codification of knowledge and its transmission through communications and computer networks are shaping an ‘information society'. Considering the evolution towards the knowledge based economy and the role of SMEs in Romanian economy and adding the fact that Romania is a New Member state of European Union, it is imperative for decision makers to determine the current situation of several key activities regarding SMEs beaconing a possible shift in entrepreneurs priorities.